Internet Banking Advantages

It’s true that we need yoga, pilates and weight training more than ever. This is because everything is getting easier with the click of a button! We don’t need to budge much for stuff, including the way we bank. In the west, Internet banking is the norm, and now in India, it is fast becoming a way of life in urban centres. You can actually sit on your couch and with your high-speed internet connection; you can make a credit card payment, view your transactions over the previous financial year and receive your month’s pay cheque without having to sign anything.

In the age of communication, the internet is the fastest way to get anything done, anywhere that you may be. So it was only normal for banks to take their business online. Nowadays it’s a no-brainer to set up an account with a bank online. You simply need to sign in with a username and password, specify what kind of account you want, maintain a minimum deposit in your account and offer some sort of identification. You don’t neeed to head to each and every bank to find out information physically, because it is all on the internet. Neither do you need to stand in a long queue at the teller kiosk or the personal banking section. Instead of an account number however, you are given a customer number, which you use at the time of login. And most sites come with heavy security, so there’s no fear of having your information leaked to the public.

The benefits of internet banking are several. You have a handy feature that allows you to view your transaction history. So whether your account has been credited or debited, you don’t have to keep it all in your memory or call the bank to ask. It’s all there online for you to see. Also since credits and debits instantly show in your account, you can tell whether or not a transaction has occurred as yet. This is useful especially if someone owes you an amount and claims that they’ve already made the transfer. Speaking of which, another useful feature of your online banking account is the ability to make transfers. No more fussing with cheque leaves, requesting new cheque books, dealing with cancel marks and smudge marks on cheques, etc. If you hold two accounts in the same bank, you can easily transfer amounts of money between the two, instantaneously. You can even make transfers between bank accounts, provided you know details like the customer name, number and a special code.

One of the best features of online banking is making online transactions. So you can pay for anything on the internet with your account details. And there is even a special feature where you can make payments every month. So if you need to pay your loan agent, or your cellphone network service, your credit card vendor, or even your landlord for the rent. You can simply arrange the settings on your account, once you have the payee’s information, for the amount due to simply plop from your account to theirs. In this way you don’t have to worry about lost bills or not making payments on time and accruing interest.

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